Archive for

Greens Media release – April 28th, 2011
Decades of under-investment by governments across Australia have left the country extremely vulnerable to rising oil prices, the Australian Greens warned today. Greens transport spokesperson Senator Scott Ludlam said governments had been pouring money into roads and fuel subsidies while neglecting public rail.

Since the middle of February oil prices have increased by some $22 a barrel. As the U.S. currently consumes just over 19 million barrels of oil a day, that means collectively we are now spending about $420 million a day more filling up our fuel tanks than we were two months ago.

China has spent tens of billions of dollars buying into energy resources from Africa to Latin America to slake the unquenched thirst for fuel from its growing industry and burgeoning cities. But China may have more energy riches under its own soil than policy makers in the world's second-largest economy ever dared imagine.

Plans to exploit Iraq's oil reserves were discussed by government ministers and the world's largest oil companies the year before Britain took a leading role in invading Iraq, government documents show.

The supposed disinterest expressed by international oil companies in the outcome of the invasion of Iraq in the year before it was launched never quite made sense. Iraqis used to ask ironically if the rest of the world would have been quite so interested in the fate of their country if its main export had been cabbages.

Saudi Arabia is seriously trying to talk down the oil market. But in doing so, it is setting the stage for another oil price rally. Ali Naimi, the kingdom’s oil minister, has revealed that Saudi Arabia sharply reduced sharply its oil production last month – by a hefty 800,000 barrels a day – becau

If you're wondering what General Motors is up to China, here's a fresh example. It's the new Baojun 630 sedan, which made its debut last week at the Shanghai auto show. Apparently, the midsize Baojun 630 has one truly appealing quality: It's cheap.

Oil and gas companies injected hundreds of millions of gallons of hazardous or carcinogenic chemicals into wells in more than 13 states from 2005 to 2009, according to an investigation by Congressional Democrats.